WASHINGTON — U.S. employers added 172,000 jobs in May, the Labor Department reported, with the unemployment rate holding steady at 4.3 percent as the labor market showed resilience amid volatility in global energy prices.
The May gain, released on June 5, followed a revised increase of 179,000 jobs in April and came in well above economists' expectations, according to multiple reports. Job gains occurred in leisure and hospitality, local government, and health care, while financial activities saw losses.
The figures indicate that hiring continued at a moderate pace even as geopolitical tensions in the Middle East contributed to higher energy costs. Disruptions in global oil supply routes have pushed up prices, raising concerns about inflation and business costs, analysts have noted.
The Bureau of Labor Statistics data showed total nonfarm payroll employment rising, with sectors such as leisure and hospitality adding about 70,000 positions. Health care and social assistance also posted gains, while local government employment increased. Financial activities employment declined by 22,000.
Average hourly earnings rose 0.3 percent in May and were up 3.4 percent from a year earlier, in line with recent trends.
Economists have pointed to the labor market's ability to absorb pressures from elevated energy prices linked to international developments. Brent crude prices have risen amid supply concerns, contributing to higher headline inflation readings.
"The U.S. economy added 172,000 jobs in May, significantly outperforming analyst forecasts despite ongoing concerns surrounding inflation and broader economic growth," the Energy Workforce & Technology Council said in a statement on related sector trends.
Broader measures of labor underutilization, including the U-6 rate, stood at 8.1 percent, reflecting some slack beyond the headline unemployment figure.
The jobs data arrives as the Federal Reserve monitors inflation, which has been influenced by energy costs. Officials have not indicated immediate policy shifts, but sustained energy market pressures could complicate efforts to balance growth and price stability, according to economic analyses.
Revisions to prior months' figures showed additional strength, with March and April combined revised higher by a net 93,000 jobs in some estimates.
The next employment report, covering June, is scheduled for release on July 2. Details on June payroll figures remain unavailable.
